The investment potential arising out of China Pakistan Economic Corridor (CPEC), the UAE’s $10 billion investment pledge, and Saudi Arabia’s $5 billion investment package commitment are all perceived as a game-changer to turn around the fragile economy of Pakistan. The prospects of investment from Kuwait and Qatar, whose heads of state are expected to visit Pakistan soon, have also been described as “bright”.

Special Investment Facilitation Council (SIFC), launched for the economic revival of the country and for attracting investments from friendly nations, is spearheading the mandate of mobilisation of investment in the country.

Earlier this month, Prime Minister Shehbaz also constituted a committee of economic experts to be headed by the finance minister for developing “Home-grown Economic Development Plan”.

The body comprises professors from the universities of Oxford and Cambridge, and economic academics and experts from Pakistan. It is unclear whether and how this forum of experts will interface with SIFC.

Also, it has been reported that the government has established seven dedicated desks earmarked for China, Qatar, the UAE, Saudi Arabia, the European Union, the United States and the Far East to mobilize and facilitate investment from these countries. Notably, there already exist multiple investment facilitators in public sector such as Federal Board of Investment (BOI), Provincial Boards of Investment of Punjab, Sindh and KP, a fleet of commercial counselors around the globe and many chambers of commerce and industry in the private sector.

Setting up SIFC and forming a panel of economic experts are the steps in the right direction and give a much dedicated and professional level of management coverage and comfort to investors and provide a well considered lead to the investment initiatives. Also, in light of no interest of investment by the West in the Pakistani market, the outreach to Arab nations for investment is the option worth exploring.

The timing appears to be right as taking into consideration a broader global business perspective the UAE, Saudi Arabia and other........

© Business Recorder